Ola Electric IPO: Following the Mufti IPO, there are now many IPOs every day, and investors are making massive investments. And now Ola is also one the race of IPOs with its electric scooter.
Ola Electric is set to become India’s first electric vehicle company, which is a big deal in the automobile industry. It’s been a long time since we’ve seen a major IPO from a company in the auto sector. The last time something this significant happened was back in 2003, when Maruti Suzuki went public.
Investors in the stock market are really excited about the upcoming Ola Electric IPO in 2024. IPOs are when a company offers its shares to the public for the first time, and it’s a big opportunity for investors to buy a stake in the company. So, everyone is eagerly waiting to see what Ola Electric’s IPO will bring to the table.
The electrical scooter manufacturer Ola Electric has submitted its initial public offering (IPO) documents to SEBI (Securities and Exchange Board of India). By means of this IPO, they hope to raise an incredible ₹7,250 crore. Just ₹1,750 crore of this total will come via an “offer for sale,” with the remaining ₹5,500 crore coming from the sale of new shares.
Ola Electric IPO Fund Allocation
With an IPO raising ₹5,500 crore, the subsidiary firm of Ola (Ola Cell Private Technologies) would use ₹1,200 crore to boost its cell manufacturing. Moreover, research and development will receive ₹1,600 crore. The company’s debt would be paid off with ₹800 crore of the ₹5,500 crore. Additional corporate expenses will total ₹350 crore.